Kina Bank

Kina to introduce competitive rates

CEO Greg Pawson said this at the recent Port Moresby Chamber of Commerce and Industry (POMCCI) Business Breakfast.

He said this is part of Kina Bank’s aim to be a competitive player in the sector by offering low and competitive home loans.

Pawson said three months ago Kina Bank introduced its home loan products which have seen great interest.

“We launched a very competitive low variable rate home loan about three months ago and it’s fair to say the activity, the buy-up and the volume that we have seen has been really impressive,” he said.

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Bringing jobs back to PNG: Kina Bank

Chief Executive Officer Greg Pawson said at a customer function recently in Port Moresby that the Bank was engaged in a major program of transformation that will see jobs created in the fields of operations, technology, credit and risk.

“Since we announced the acquisition of ANZ PNG’s Retail, Commercial and SME business, we have been expanding our operations. We’ve been building out our back-office functions to support the new products and services we will introduce throughout the year – from credit cards to mobile payment options.

Bank pioneers new technology

This is a digital software solution that allows all of the banks in PNG to connect to one another through the central bank.

Greg Pawson, Chief Executive Officer of Kina Bank, said: “The new switch is a game-changer for banking in PNG. It will lead to additional customer choice because it removes barriers to entry for smaller financial institutions who offer their own cards or EFTPOS and ATM services.”

PNG’s debut in sovereign bond market applauded

Investment bankers Citigroup and Credit Suisse were joint lead managers and book runners for the deal, which garnered significant interest with some reports stating demand was USD3.3 billion, mostly from the USA. Nasdaq reported that the bond has a 10 year maturity and will carry a yield of 8.375 percent.

Sovereign bond raising positive: Bank

It says this is a very good outcome for PNG in the beginning to diversify sources of its debt.

The Bank also said it marks an important milestone for the government, the central bank and Treasury with respect to debt management strategy.

Kina Bank believes PNG remains relatively attractive from an offshore debt provider point of view due to low foreign debt levels and a large trade surplus.

The bank said the issuance had been subscribed with a level of demand well in excess of the amount offered, indicating an underlying appetite for PNG foreign currency debt.

Kina introduces online account activation

The revolutionary service allows customers to fill in the usual details online and upload copies of their identification documents for Kina Bank staff to verify.

And with a simple click of the button, the application process is complete.

Customers only need to visit one of Kina Bank’s newly refurbished state-of-the-art concept branches to confirm their identity and collect their new Kina Bank card.

Customers will then have immediate access to Kina Bank’s range of exceptional products and services.

ANZ to focus on Institutional and Large Corporate Banking in PNG

The decision is in line with ANZ’s simplification strategy, while also supporting customers with trade and capital flows in the region.

Kina Bank is a wholly-owned subsidiary of Kina Securities Limited, a PNG company listed on the Australian and Port Moresby securities exchanges.

Kina Bank rolls out ATM expansion

In the capital city, a Kina ATM has been installed at Eight-Mile RH Service Station outside Port Moresby while plans are underway to have another ATM installed at Nine-Mile Total Service Station in Port Moresby.

In Lae, a Kina ATM has been installed in the Lae Plaza.

Danny Robinson, executive general manager banking, said since the attainment of the banking licence from the acquisition of Maybank PNG, Kina Bank had shown consistent growth and expansion of its services to its customers.

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Kina Bank supports Golf Pro-Am

At the sponsorship announcement today, CEO of Kina Group, Grew Pawson was pleased to the sponsor the prestigious event on the golf calendar.

He said the competition will help expose amateur golfers to experience playing alongside international professional golfers.

“This is a lifetime activity that promotes physical, mental and emotional well-being individuals.

“Supporting our community through sports in PNG is one of Kina’s aims allowing us to give back to the community.”

Kina Bank records increased income

This is up 11 percent from the previous corresponding period.

In its 2017 Full Year Result, Kina Bank said this was achieved by driving loan book growth while ensuring careful management of cost of funds and yield on interest earning assets.

Interest income from investments grew by 17 percent or K2.8m, while interest income on loans grew by 32 percent or PGK19.3m.

In 2017, bank fees and commissions income grew by 11 percent, reflecting growth in lending and retail customer segments.

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